Executive Office
New
For Sale
$1,600,000
2990 N Litchfield Road, Goodyear, AZ 85395
Office units with reception, conference, and pantry areas in a professional plaza near I-10.
Property Size3,860 SF
Price / SF$414.51
Days on Market5
Property Features for 2990 N Litchfield Road
General Information
Standard status
Active
Size
3,860 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,925
Amenities
reception room
conference room
pantry
high ceilings
office lighting
blinds
concrete flooring
Listing Agency:
My Home Group Real Estate
(480) 359-7796
Listed By:
Carla Magee · License #SA685362000
(480) 359-7796
Source:
Exprealty
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 15 at 6:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of My Home Group Real Estate
Investment Insights
Based on property information with market context.
This 3,860-square-foot executive office property at Palm Valley Professional Plaza includes a welcoming reception area, multiple office spaces, a conference room, and a pantry equipped with cabinetry and appliances. High ceilings, installed office lighting, window blinds, and concrete flooring provide a functional finish package for professional occupancy.
The property is located at 2990 N Litchfield Road in Goodyear, Arizona, with convenient access to I-10. On-site parking supports both employees and visitors.
The property is located at 2990 N Litchfield Road in Goodyear, Arizona, with convenient access to I-10. On-site parking supports both employees and visitors.
Key Highlights
- 3,860 SF executive office property
- Reception area, multiple offices, and conference room
- Pantry with cabinetry and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,175
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,123,500
$1.1M
Cap Rate 7%
$802,500
$802.5K
Cap Rate 9%
$624,167
$624.2K
Market Conditions
NOI Build-Up for 3,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$97.3K $25.20/SF
− Vacancy
−$22.4K −$5.80/SF
EGI
$74.9K $19.40/SF
− OpEx
−$18.7K −$4.85/SF
NOI
$56.2K $14.55/SF
Area
Goodyear, AZ
Vacancy
23.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,123,500
Cap Rate 7%
$802,500
Cap Rate 9%
$624,167
Alternative Uses
Best Use
Office B
$802.5K
$702.2K – $936.3K
NOI $56,175 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$996.6K – $1.33M
NOI $79,730 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 85395, AZ
37,157
Population
15,710
Households
2.4
Avg Household Size
45
Median Age
40%
College-Educated
91%
High-School Grad
18.6 sq mi
ZIP Area
1,998
Density / Sq Mi
$107,980
Median Household Income
$52,185
Median Earnings
$1,912
Median Rent
$524,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office units with reception, conference, and pantry areas in a professional plaza near I-10.
Where is this office units located?
The property is located at 2990 N Litchfield Road Goodyear, AZ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 3,860 SF executive office property; Reception area, multiple offices, and conference room; Pantry with cabinetry and appliances
